Senior US Official Says Iran Deal Meets Core Security Goals, Includes Reopening of Strait of Hormuz

A senior US administration official said a proposed agreement between the US and Iran would meet Washington’s core security goals.

Walter Bloomberg reported on June 12 that the official described the Iran deal as achieving the United States’ core objectives.

The agreement would reopen the Strait of Hormuz. Under the deal, the US would also take custody of Iran’s enriched nuclear material, and an international inspection regime would be put in place.

If Iran complies with the agreement, it would receive economic compensation. The benefits would be provided only if Tehran actually carries out its commitments.

The official added that the US expects to sign the agreement within the next several days.

The draft also includes provisions to lift the US maritime blockade and dismantle Iran’s nuclear program.

President Donald Trump recently said negotiations between the US and Iran were effectively in their final stage and that a signing could come this weekend or early next week.

Iran, however, has maintained that it has not yet made a final decision. The Iranian Foreign Ministry said the relevant authorities are still reviewing the matter and that an official announcement will be made once a final conclusion is reached.

Markets view the deal, if signed, as likely to ease geopolitical risks in the Middle East and materially affect crude oil prices, gold and investor sentiment across global financial markets.